The Lesson That Cost Me Millions (But Made Me Rich)

Sold Amazon at 3x gains in 2014 because I hated the Fire Phone. Turns out it was the worst investment decision ever — the stock became a 14-bagger while I sat on the sidelines.

The hard lesson? Don’t underestimate founder-led companies betting on innovation, even when they swing and miss.

Just made the same mistake again with TransMedics (TMDX) — bought it, then panicked when they acquired an aviation company (thought it’d destroy margins). Halved my position out of fear.

But I gave it time instead of selling. CEO Waleed Hassanein’s vision: build a nationwide logistics network to actually move organs efficiently. Sounds wild, but it worked.

Fast forward: stock tripled from 2023 lows. Transplant revenue up 32%, logistics up 35%. The aviation unit now handles 78% of transplants. Margins didn’t tank like I feared — they actually improved.

Company’s targeting 10,000 transplants in a few years (vs ~3,000 now). Kidneys and international markets are next.

The real play? Stop betting against founder-led companies that swing big. Their “bad” ideas often become billion-dollar businesses.

Warren Buffett said it best: learn from your mistakes, but it’s better to learn from other people’s.

Keeping this one and adding more.